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Quotes & Info
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| LLNW > SEC Filings for LLNW > Form 8-K on 5-Dec-2012 | All Recent SEC Filings |
5-Dec-2012
Change in Directors or Principal Officers
On December 3, 2012, Limelight Networks, Inc. (the "Company") entered into a second amendment to the employment agreement for its Senior Vice President and Chief Financial Officer, Douglas Lindroth. The following is a brief summary of the material terms of the amendment. Any capitalized terms used herein shall have the meanings ascribed to them in the employment agreement or the amendments to the employment agreement.
If Mr. Lindroth's employment is terminated by the Company without Cause or if
he resigns for Good Reason, and such termination is not in Connection with a
Change of Control, then Mr. Lindroth will receive: (i) continued payment of his
Base Salary (subject to applicable tax withholdings) for twelve (12) months;
(ii) the actual earned cash incentive, if any, payable to Mr. Lindroth for the
current year, pro-rated to the date of termination (as determined by the
Company's Compensation Committee in good faith), and (iii) reimbursement for
premiums paid for continued health benefits for Mr. Lindroth (and any eligible
dependents) under the Company's health plans until the earlier of twelve (12)
months or the date upon which Mr. Lindroth and his eligible dependents become
covered under similar plans; provided, however, that if Mr. Lindroth resigns for
Good Reason under subsection (iii)(A) of the definition of Good Reason, then the
continued payment of the Base Salary component of his severance shall be for a
period of only six (6) months. Good Reason, as defined in subsection (iii)(A) of
Mr. Lindroth's second amended employment agreement, means a material change in
geographic location at which Mr. Lindroth must perform services to the Company
for more than an average of three (3) full working days per week (that is, the
requirement that Mr. Lindroth perform services for more than an average of three
full working days per week at a facility or location that is more than
thirty-five (35) miles from his current residence). Good Reason, as defined in
subsection (iii)(B) of Mr. Lindroth's second amended employment agreement, means
a material change in geographic location of Mr. Lindroth's principal office
(that is, the relocation of Mr. Lindroth to a facility or location that is more
than thirty-five (35) miles from either the Company's Solana Beach, California
office or his current residence).
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